Financial Statements 2016-2017

Company Registration No. 09662303 (England and Wales) VENN ACADEMY TRUST (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017 VENN ACADEMY TRUST REFERENCE AND ADMINISTRATIVE DETAILS Trustees Mr T Johnson (Chair of Trustees) Mr V Blake-Barnard Mr C Fenwick Mr M McAlindon Mr S Witham (Chief Executive Principal and Accounting Officer) Mrs C Patton (Headteacher) Mr P Wilson (Vice Chair) Members Mr T Burnside Mr C Fenwick Mr M McAlindon Mrs B Welbourn Mr M Dickinson Senior management team - Chief Executive Principal and Accounting Mr S Witham Officer - Headteacher PRU's / Special School Mrs C Patton Company registration number 09662303 (England and Wales) Registered office Bridgeview Whitehouse Sullivan Centre Pickering Road Hull HU47AD Academies operated Location Principal Thorpepark Acedemy Kingston Upon Hull Caroline Knight Bridgeview Special School Kingston Upon Hull Claire Patton Sullivan Centre Kingston Upon Hull Claire Patton Whitehouse Kingston Upon Hull Claire Patton Mountbatten Primary School Kingston Upon Hull Lisa Traynor Boulevard Centre Kingston Upon Hull Jacqui Thompson Griffin Primary School Kingston Upon Hull Juliette Garmston Independent auditor RSM UK Audit LLP Two Humber Quays Wellington Street West Hull HU12BN Bankers Lloyds Bank pic 25 Gresham Street London EC2V 7HN - 1 - VENN ACADEMY TRUST REFERENCE AND ADMINISTRATIVE DETAILS Solicitors Browne Jacobson LLP Mowbray House Castle Meadow Road Nottingham NG2 1 BJ - 2 - VENN ACADEMY TRUST TRUSTEES'REPORT The trustees present their annual report together with the financial statements and auditor's report of the charitable company for the period 1 September 2016 to 31 August 2017. The annual report serves the purposes of both a trustees' report, and a directors' report under company law. The Trust opened on 1 September 2015 with four converting Academies, being Thorpepark Academy, Bridgeview Special School, Whitehouse Pupil Referral Unit and The Sullivan Centre (a medical pupil referral unit). During the year the Trust has grown to include a number of additional converter academies, these are governed by Venn Academy Trust. The Boulevard Centre (School Girl Mums) joined the Trust on 1 September 2016. Griffin Primary School and Mountbatten Primary School both joined in June and July 2017 respectively and are both mainstream primary schools. The Academy Trust operates 3 Primary Academies, 1 Primary Special School and 3 Alternative Provision Pupil Referral Units in Kingston upon Hull during 2016/17. It has a pupil net capacity of: Thorpepark Academy 540, Mountbatten Primary School 300, Griffin Primary School 496, the Alternative Provision PRU's have a capacity for which the school is organised to make provision of: Bridgeview Special School 35, Whitehouse PRU 30, Sullivan Centre 25, Boulevard Centre 40. The total number on roll in January 2017 was Thorpepark Academy 526, Mountbatten Primary School 253, Griffin Primary School 480, Bridgeview Special School 43, Sullivan Centre 11, Whitehouse PRU 28, Boulevard Centre 20. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution The Academy Trust is a company limited by guarantee and an exempt charity. The charitable company's memorandum and articles of association are the primary governing documents of the Academy Trust. The Multi-academy Trust ("the Trust") is known as the Venn Academy Trust and the settings are known as Thorpepark Academy, Bridgeview Special School, Whitehouse PRU, The Sullivan Centre, The Boulevard Centre, Griffin Primary School and Mountbatten Primary School. The trustees of Venn Academy Trust are also the directors of the charitable company for the purposes of company law. Details of the trustees who served during the year are included in the Reference and Administrative Details on page 1. Members' liability Each member of the charitable company undertakes to contribute to the assets of the charitable company in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £10, for the debts and liabilities contracted before they ceased to be a member. Trustees' indemnities Subject to the provisions of the Companies Act 2006, every Trustee of the Trust shall be identified out of the assets of the Trust against any liability incurred by them in that capacity in defending any proceedings, whether civil or criminal, in which judgement is given in favour or in which they are acquitted or in connection with any application in which relief is granted to him by the court from liability for negligence, default, breach of duty or trust in relation to the affairs of the Trust. A Trustee may benefit from any indemnity insurance purchased at the Academy Trust's expense to cover the liability of Trust which by virtue of any law would otherwise attach to them. This is in respect of any negligence, default or break of trust or duty of which they may be guilty in relation to the Academy Trust (RPA Governors Liability Expense). The insurance provides cover up to £10,000,000 for anyone loss and anyone-membership period. - 3- VENN ACADEMY TRUST TRUSTEES' REPORT (CONTINUED) Method of recruitment and appointment or election of trustees The Trust has a total of seven Trustees as shown on page 1. This includes the Chief Executive (Accounting Officer and the Chair of the Local Governing Body of Thorpepark Academy). New Trustees are appointed by the Members. When new Trustees or Governors are appointed, the Members and Board of Trustees approves at that time an appropriate process and criteria for recruitment based on an analysis of the current skill and capability requirements of the Board or Governing Body, the current needs of each academy and governance good practice at Trust level. Each academy has retained its own Local Governing Body (LGB), however Bridgeview Special School, Whitehouse PRU, Sullivan Centre share one LGB with discreet agenda items that are school specific as necessary. Policies and procedures adopted for the induction and training of trustees All Trustees and Governors are provided with copies of the OfE Governors' Handbook on appointment. When new Trustees or Governors are appointed, an analysis of the requirements of their role and their current skills determines their induction process. The induction process is outlined in the Governance Handbook. Effective governance is critical to the success of the Trust and its schools. The Trust also has a formal induction policy for new Trustees and Governors. - 4- VENN ACADEMY TRUST TRUSTEES' REPORT (CONTINUED) Organisational structure During the period the organisational structure of the Trust consisted of 3 levels: the Trust Members, the Board of Trustees and the Local Governing Bodies. The Local Governing Bodies have committees where required and the Trust has an Audit and Risk committee. It is further supported by the Venn Senior Leadership Board. The central services has developed to include the a new Finance Director (who is the Chief Financial Officer), a senior HR Business Partner and is reviewing clerking and administrative support staff. The Board of Trustees of the Trust shall hold a minimum of four meetings in every school period, including the annual general meeting (AGM). The role of the Trust is: • To be ultimately accountable and responsible for all decisions regarding the strategic running of the MAT and the individual schools within it; • To have oversight of the curriculum, standards, progress and outcomes across the trust and the individual schools; • To have oversight of finances and risk management of the trust and the individual schools. The role of each LGB is to: • Ensure clarity of vision, ethos and strategic direction at each school; • Hold Headteachers to account for the educational performance of the school and its pupils, and the performance management of staff; • Oversee the financial performance of the school and making sure its money is well spent; • Advise the Board as required. The Scheme of Delegation framework sets out the responsibilities of the key roles in relation to each school within the Trust and is reviewed annually. In July 2017 the scheme of delegation was developed to distinguish further between supported and unsupported schools. The Board of Trustees are able to delegate identified functions to any Trustee, committee (including any Local Governing Body), or any other holder of an executive office, to the extent of power or function which they consider desirable to be exercised by them. Any such delegation shall be made subject to any conditions the Trustees may impose, and may be revoked or altered. The Trustees shall appoint Headteachers of the participating schools. The Trustees may delegate such powers and functions as they consider are required to the Chief Executive Officer and the Headteachers for the internal organisation, management and control of the Schools (including the implementation of all policies approved by the Trustees and for the direction of the teaching and curriculum at the Schools). The Board of Trustees are responsible for ensuring that high standards of corporate governance are maintained. It should exercise its powers and functions with a view to fulfilling a largely strategic leadership role in the running of the schools within the Trust. The Local Governing Body is able to delegate identified functions to a committee; where decisions have been delegated these must be reported back to the next Local Governing Body meeting. It is essential that the Local Governing Body delegate sufficient powers to the Headteacher so that they can manage the school effectively. The Board I Local Governing Body delegates general responsibility to incur financial commitments and expenditure in accordance with the approved budget plan and financial regulations. - 5- VENN ACADEMY TRUST TRUSTEES' REPORT (CONTINUED) Arrangements for setting pay and remuneration of key management personnel Venn Academy Trust has a senior leadership pay scale applicable for the Chief Executive Officer, Deputy Chief Executive and Executive Headteachers (who are not key management personnel).

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